UK interest rates swap spreads held steady on Friday, while their German counterparts widened, as a flight to quality in Gilts was offset by rising concern that an economic slowdown will lead to a leap in government borrowing.

Large derivative users are set to make a last-ditch attempt to block a Basel Committee decision to ban use of internal models for calculation of CVA capital in respect of large derivative counterparties.

The proposed US$30bn merger between Deutsche Boerse and London Stock Exchange will help the European financial services industry to remain competitive against the US and Asia, according to the head of the German exchange operator.

The proposed US$30bn merger between Deutsche Boerse and London Stock Exchange will help the European financial services industry to remain competitive against the US and Asia, according to the head of the German exchange operator.